The fourth "Red Boat" Jiaxing Global Innovation and Entrepreneurship Competition was launched in Jiaxing, East China's Zhejiang province, on Aug 18, Jiaxing Daily reported.

According to the event schedule, various competitions will be held in different cities this month, while both the overseas entrepreneurship competition and innovation industry competition will be held in Jiaxing.

The overseas entrepreneurship competition was unveiled on the launching day with its focus on digital economy, advanced manufacturing, new energy and materials, as well as life and health sciences.

A total of eight prize winners, including one top prize winner, will be selected from more than 80 projects during the four-day competition.

From Aug 23 to 25, Jiaxing will organize the innovation industry competition.

The "Red Boat" Jiaxing Global Innovation and Entrepreneurship Competition comes as part of Jiaxing's efforts to attract high-caliber professionals. It is sponsored by the Jiaxing Municipal Committee of the CPC and the Jiaxing Municipal Government.

Sixteen projects will be chosen from the various competitions to participate in the finals in Jiaxing, each of which will be given a financial support of up to 10 million yuan ($1.44 million) and a property purchasing subsidy of 600,000 yuan if they start operations in Jiaxing.

A participant of the overseas entrepreneurship competition, part of the fourth "Red Boat" Jiaxing Global Innovation and Entrepreneurship Competition, presents his project online to judges in Jiaxing on Aug 18. [Photo/cnjxol.com]